Jennison Associates LLC Acquires 798,017 Shares of Element Solutions Inc. $ESI

Jennison Associates LLC grew its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179,035 shares of the company's stock after acquiring an additional 798,017 shares during the period. Jennison Associates LLC owned 0.90% of Element Solutions worth $54,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Element Solutions by 154.8% during the third quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company's stock valued at $28,000 after purchasing an additional 678 shares during the last quarter. Community Bank N.A. acquired a new position in shares of Element Solutions during the 3rd quarter worth approximately $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Element Solutions during the 3rd quarter worth approximately $41,000. Johnson Financial Group Inc. bought a new stake in shares of Element Solutions during the 3rd quarter worth approximately $47,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Element Solutions in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ESI. Freedom Capital raised shares of Element Solutions to a "strong-buy" rating in a research note on Friday, March 27th. Mizuho increased their price target on shares of Element Solutions from $29.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, February 18th. UBS Group lifted their price objective on shares of Element Solutions to $52.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen raised shares of Element Solutions from a "hold" rating to a "buy" rating in a report on Monday, April 20th. Finally, Truist Financial raised their target price on shares of Element Solutions from $38.00 to $47.00 and gave the company a "buy" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Element Solutions has an average rating of "Buy" and an average price target of $39.57.

Element Solutions Stock Up 0.3%

ESI opened at $42.67 on Friday. The stock's fifty day simple moving average is $35.30 and its 200 day simple moving average is $30.10. Element Solutions Inc. has a 1-year low of $20.43 and a 1-year high of $43.83. The stock has a market cap of $10.39 billion, a PE ratio of 68.83, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. The company has a current ratio of 2.68, a quick ratio of 3.00 and a debt-to-equity ratio of 0.75.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.03. The firm had revenue of $840.00 million during the quarter, compared to analysts' expectations of $710.51 million. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company's revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, research analysts expect that Element Solutions Inc. will post 1.76 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.08 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. Element Solutions's dividend payout ratio is 40.51%.

Insider Buying and Selling

In other Element Solutions news, Director E Stanley Oneal sold 143,564 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.52, for a total value of $5,099,393.28. Following the transaction, the director directly owned 147,832 shares of the company's stock, valued at $5,250,992.64. This represents a 49.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.20% of the company's stock.

About Element Solutions

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company's solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.

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